IBI Group Inc. announced that Alan R. Marchment has retired from the company's board of directors to pursue other personal and professional commitments, effective immediately. Mr. Marchment had previously indicated a desire to retire from the Board following the achievement of the recently announced milestones in recapitalization plan. The Board of directors will, in accordance with past practice, establish a director search committee to find additional qualified independent directors.

Dale Richmond will rejoin the Audit Committee and Lorraine Bell will replace Mr. Marchment as Chair.